China’s Xiamen Tungsten Increased APT Bid Price for February 2024

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price maintains stable on February 20, 2024. On one hand, this is due to the lingering holiday atmosphere, with industry enterprises not yet fully resuming operations. 

The mining end continues the firm trend from before the holiday, with relatively limited resource supply. Smelting companies maintain a wait-and-see attitude, while downstream customers show limited procurement enthusiasm. 

Overall, the tungsten market has limited transactions, with a predominant wait-and-see sentiment. Some raw material holders have slightly increased their offering prices.

On the other hand, several institutions and representative tungsten companies published forecasts or long-term contract prices before and after the Spring Festival, all of which were slightly higher than the previous round. Although these forecasts are relatively conservative compared to market quotations, they provide some support for stabilizing tungsten prices. The market remains stable, waiting for natural adjustments in the fundamentals and foreseeable or unforeseeable macro factors.

According to Chinatungsten Online, APT bid price at Xiamen Tungsten in the second half of February 2024 was $293.8/mtu, an increase of $2.4/mtu compared to the second half of January.

Prices of tungsten products on February 21, 2024

Picture of gold plated tungsten wire 

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